As a reminder, our forecast for 2019 was as follows:
So far the market this year has fallen by another 3.8%. Our base case forecast, released in our 2019 Housing Boom and Bust Report back in November 2018, was for a total 2019 dwelling price fall of between -3% to -6%. It would be fair to say that up until this past weekend the market was heading towards the bottom end of that forecast (-6%).
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
